Essence Group Holdings Raises $71M for Healthcare Innovation
St. Louis-based Essence Group Holdings Corp., parent company of population health management leader Lumeris, has successfully closed a \(71 million funding round. This brings the company's total funding to \)141 million as it accelerates solutions for healthcare’s value-based care transition.
Transforming Healthcare Through Value-Based Models
The funding comes at a critical time as the industry shifts from traditional fee-for-service models to outcome-based reimbursement structures under the Affordable Care Act. This paradigm change requires:
- Real-time patient monitoring across care networks
- Advanced population health analytics
- Performance-based payment systems
“We’re witnessing a healthcare revolution focused on accountability and improved clinical outcomes at sustainable costs,” said W. Michael Long, Chairman and CEO of Essence Group Holdings and Lumeris.
Strategic Growth and Investor Confidence
The latest round included participation from prominent investors:
- Sandbox Industries
- BlueCross BlueShield Venture Partners
- Kleiner Perkins Caufield & Byers
- Camden Partners
Additional undisclosed investors also contributed to the funding.
Expansion Plans and Market Impact
The capital will fuel Lumeris’s ambitious expansion strategy:
- Scaling operations from 8 to 20 markets
- Supporting organizations representing 50+ million patients
- Enhancing technology for value-based care transitions
“Our expansion will empower more healthcare organizations to successfully navigate the shift from volume to value,” Long added. The company aims to complete this market expansion by the end of 2015.
The Future of Population Health Management
As healthcare continues evolving toward outcome-based models, Essence Group Holdings’ latest funding positions Lumeris as a key enabler for providers navigating this complex transition. The investment underscores growing confidence in value-based care solutions that improve patient outcomes while controlling costs.
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